The Power to Audit is the Power to Destroy the FED

So what happens on Day One of the FED Audit?
by William Huff

Imagine a twisted dystopic variation on It’s a Wonderful Life, where Jimmy Stewart’s character has turned all the way to the Dark Side for the FED. You will remember the scene, where, after the crash of 1929 is under way, the customers of the Bailey Brothers Building & Loan crowd into the lobby to withdraw everything they have deposited in order to get through Roosevelt’s Bank Holiday. Imagine Evil George [played by Ben Bernanke] now a “made man” for Henry F. Potter [played by Alan Greenspan] trying to pacify them:

"You're thinking of this place all wrong. As if we had the money back in a safe. The money's not here. The money is not really anywhere. And yet, in a certain sense, the money is everywhere. If something really bad happens, or if we think something bad is going to happen, we just create more. We can create money to make anything good happen any time we want. When we want less money we just destroy some. None of the rules that apply to auditing can apply here in anything but a virtual sense. We have achieved the perfect blend of Patriotism and Secrecy. We never abuse our power – and we don’t just exist to protect and support any powerful elite or anyone on Wall Street. The money we create from nothing is only used for the common good. There are no unintended consequences. Of course we cannot have other entities creating money out of nothing. That would be chaotic, and, besides, it’s against the law. Now… if you don’t want to start some sort of panic, or cause economic disruptions, you’ll just go away and act as though we were, and still are, the best command and control for the economy. Just trust us. Get all of that nonsense about the Rule of Law and the Constitution out of your heads. The Founding Fathers would have had no idea of how to run a modern country. So stop reading all of their wordy diatribes against fiat money and central banks… Now that I have explained everything you can all settle down and go back to wherever you came from, your houses, your apartments, your tenements, your homeless shelters, whatever, and go on with your life. I’m so glad we had this opportunity to clear everything up. Remember… we can get through this thing all right. We've got to stick together, though. We've got to have faith in each other. Remember what the President said: 'The only thing we have to fear is Fear Itself.' Click here for Part 2 of FDR’s Banking Holiday Pitch."

In Part 2, linked above at about 5 minutes and 30 seconds into the audio, FDR said, the “Confidence of the People” was “more important than Gold.” Think about it.

The FED must resist all penetration for as long as it possibly can. They love their power, prestige and perks. There will have to be some kicking and screaming. Even the mention of any alternative to their financial monopoly must be suppressed, and has been effectively suppressed since 1913. If you think you know something about government waste and corruption just wait until we get into the Audit of the FED. Perhaps the FED should be required to have signs like McDonald’s in front of every member bank that say “Federal Reserve Bank - Trillions and Trillions Missing.”

What’s it really like on the inside?

 Pick a number from a million to a trillion. Now imagine your response if one of your employees told you that amount was simply “missing.” Now imagine him telling you he is doing you the favor of staying on to manage all of your financial affairs – forever. Now imagine him telling you he is under no obligation to tell you where any of the missing money went – and just bits and pieces regarding the money he spent and can document. You are not to be trusted with any of this information about your own money. Furthermore, you are to be left with no real control of your own money whatsoever.

Now that you have imagined all of the above, realize that the truth about the FED is far worse. It is a combination of Treachery, Seduction, and Sedition. It is insidious; metastasizing, most dangerous to liberty. Historian George Bancroft equated “paper money” to a “dry rot” that would undermine our Republic, imagine what he might say about a supra-governmental entity capable of taking over the entire economy – and unanswerable to the People or any of their Representatives. “…a sanction to irredeemable paper money… clothes the government with powers that have no defined limit in its relations to the people…" - Bancroft, in “A Plea for the Constitution – Wounded in the House of Its Guardians.”

If power corrupts, what can be said of a virtually unlimited power to create money from nothing?

Have ye not heard? Have ye not known? Hath it not been told you by the Founders and Framers from the beginning – and lately by Ron Paul? The FED’s nefarious activities ARE prohibited under the Constitution. This is not a gray area for any honest scholar. They have known their activities were fraudulent, dishonest and unlawful since they conceived of them in clandestine meetings between aging robber barons and their political acolytes, all those usual suspects, whose other monopolies stood threatened in 1913.

See Madison’s Notes of August 16th 1787: The Federal Convention deliberately voted to “Shut and Bar the Door against Paper Money.” Mr. John Langdon of New Hampshire said he would rather reject the whole plan if the government were to be given the power to create fiat money. Mr. George Read of Delaware “thought the words, if not struck out, would be as alarming as the mark of the Beast in Revelations.”

Now is the Time to Rend the Veil of Secrecy – once and for all.

It is not difficult conceive of a FED where the most sensitive information is in a secure system where one keystroke will send it into oblivion if the “need” arises. Who wants to answer for all their alchemy? We know it’s really bad. We know it’s huge. But we don’t know just how many living people have very deliberately been defrauding the American People for decades. Obviously there are many people involved in banking at various levels who have been “well educated” to think of it as just another job in a complex economic matrix. But above a certain level they Must know it is best to maintain a certain protocol of “sophistication” mixed with aristocratic airs layered over a level of stench that cries out to Heaven for Justice. Who will be the principal defendant when the indictments come down?

This Audit is no job for a mere Keynesian. It will take an Austrian.

The GAO has already disqualified itself – being populated by Keynesians or Orwellians. They should, in all good conscience, recuse themselves and resign. What does the GAO really know about what goes on over at the FED?

The career of Ron Paul was accurately described by Mark Twain: “In the beginning of a change, the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.” Add to that, “They will call him a Prophet.” Of course Ron just read and believed the Prophets of our first Revolution.

A real Audit of the FED could signal a Sea Change. It could herald a true Rebirth of Original American Liberty. We cannot follow the money trail if there is no money trail.

You can help.

It’s still expensive to go against this Dragon that spews out streams of fake money – so send some of your FRNs, or better yet, a little Gold and Silver, to support someone, who, like Ron Paul, stands in the gap for the Rule of Law.

Whatever the Keynesians do, ultimately, it will be tantamount to saying, “Here is an intrinsically worthless piece of paper that says on it, ‘this note is redeemable in other worthless fiat currency for all of the missing money since 1913.’” The FED is Toast when the Real Audit begins. That is, if the Audit is not just another government cover-up operation.

Good money must have an intrinsic value. The United States of America cannot make its shadow legal tender for debts payable in money without ultimately bringing upon their foreign commerce and their home industry a catastrophe, which will be the more overwhelming the longer the day of wrath puts off its coming. Our federal constitution was designed to end forever the emission of bills of credit [paper money] as legal tender in payment of debts, alike by the individual states and the United States; and it will have that effect, if it is rightly interpreted and firmly enforced.  – George Bancroft

The loss which America has sustained since the peace [Treaty of Paris, 1783] from the pestilent effects of paper money on the necessary confidence between man and man, on the necessary confidence in the public councils, on the industry and morals of the people, and on the character of republican government, constitutes an enormous debt against the States chargeable with this unadvised measure, which must long remain unsatisfied; or rather an accumulation of guilt, which can be expiated no otherwise than by a voluntary sacrifice on the altar of justice…The power to make any thing but gold and silver a tender in payment of debts, is withdrawn from the States, on the same principle with that of issuing a paper currency. - James Madison in Federalist #44.

Take your pick: The FED is unconstitutional, extra-constitutional, or supra-constitutional. You can have the Rule of Law with Liberty, or the Tyranny of the FED.

END THE FED!